Buy Rating for Akebia Therapeutics Driven by VAFSEO’s Market Potential in CKD Anemia

Matthew Caufield, an analyst from H.C. Wainwright, has initiated a new Buy rating on Akebia Therapeutics (AKBA).

Matthew Caufield has given his Buy rating due to a combination of factors related to Akebia Therapeutics’ VAFSEO product and its potential in the CKD anemia market. VAFSEO, approved for treating anemia in adults with chronic kidney disease on dialysis, is gaining traction among dialysis organizations, which is expected to drive near-term growth. The ongoing launch of VAFSEO is anticipated to counterbalance the impact of generics on Akebia’s other product, AURYXIA, which targets hyperphosphatemia.
Furthermore, the company has secured contracts covering nearly all US dialysis patients, positioning VAFSEO for success. The flexibility in VAFSEO’s dosing regimen, ranging from 150mg to 600mg, allows for tailored treatment, potentially increasing prescriptions. The product’s oral administration offers an advantage over existing therapies like erythropoiesis-stimulating agents and iron supplementation. These strategic factors underpin Caufield’s Buy rating and the $8 price target for Akebia Therapeutics.

Caufield covers the Healthcare sector, focusing on stocks such as Unity Biotechnology, Immunic, and Aldeyra Therapeutics. According to TipRanks, Caufield has an average return of -13.5% and a 33.73% success rate on recommended stocks.

In another report released on May 29, Leerink Partners also maintained a Buy rating on the stock with a $7.00 price target.